Nidec Revises Consolidated Year-End Financial Forecasts for the Year Ending March 31, 2017
January 24 2017 - 1:15AM
Nidec Corporation (TSE:6594) (OTC US:NJDCY) (the “Company”) today
announced a revision to its IFRS-based consolidated financial
forecasts for the year ending March 31, 2017.
The Company’s profit performance for the nine
months ended December 31, 2016 exceeded the Company’s expectations
at the beginning of the period. In view of the favorable profit
growth in the nine months, the Company has decided to revise its
previously announced profit forecasts for the fiscal year ending
March 31, 2017.
The details are as follows:
Revised consolidated financial forecasts
(IFRS) for the year ending March 31, 2017
| From April 1, 2016 to March 31, 2017 (Millions of yen,
except for per share amounts and percentages) |
|
|
For the year ending March 31, 2017 |
(Reference) For the year ended March 31, 2016 |
|
|
Previous forecast(Oct. 24, 2016) |
RevisedForecast |
Change(amount) |
Change(percent) |
|
Net sales |
1,200,000 |
1,200,000 |
- |
- |
|
1,178,290 |
|
Operating profit |
135,000 |
140,000 |
5,000 |
3.7 |
% |
117,662 |
|
Profit before income taxes |
133,000 |
140,000 |
7,000 |
5.3 |
% |
117,164 |
|
Profit attributable to owners of the parent |
100,000 |
105,000 |
5,000 |
5.0 |
% |
89,945 |
|
Earnings per share attributable to owners of the parent-Basic |
337.15 |
354.01 |
- |
- |
|
303.04 |
Notes:
(1) In light of the recent depreciation of the Japanese yen, the
average exchange rates used for the forecasts are reset at ¥110
from previous ¥100 for US$1 and ¥117 from
previous ¥110 for €1, each adjusted to reflect the Japanese
yen depreciation trend respectively. The exchange rates between the
relevant Asian currencies and the Japanese yen used for the
preparation of the foregoing forecasts were determined assuming
these exchange rates.
(2) During the three months ended September 30, 2016, Nidec
finalized the provisional accounting treatment for business
combination, which was carried out in the previous fiscal year
ended March 31, 2016. As a result, figures as of March 31, 2016
reflect the revision of the initially allocated amounts of
acquisition price.
Cautionary Statement Concerning
Forward-Looking InformationThis press release contains
forward-looking statements regarding the intent, belief, strategy,
plans or expectations of the Company or other parties. Such
forward-looking statements are not guarantees of future performance
or events and involve risks and uncertainties. Actual results may
differ materially from those described in such forward-looking
statements as a result of various factors, including, but not
limited to, the risks to successfully integrating the acquired
business with the Nidec group, the anticipated benefits of the
planned transaction not being realized, changes in general economic
conditions in related product markets, shifts in technology or user
preferences for particular technologies, whether and when required
regulatory approvals are obtained, and changes in business and
regulatory environments. The Company does not undertake any
obligation to update the forward-looking statements contained
herein or the reasons why actual results could differ from those
projected in the forward-looking statements except as may be
required by law.
Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com